In 1907, Francis Galton asked participants at a county fair to estimate the weight of an ox. While most individuals guessed rather poorly, the median guess was within 1 percent of the ox’s true weight. It’s not a mysterious finding, as some people guess high and others guess low. When the group gets large, these cancel out and…
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I support a particular hospital charity that each year or so runs a home lottery and every year I enter. To date I have won a digital camera, an iPod, an Apple TV, a tonne of chocolate, wine (brilliant for a non drinker but good for presents) and a host of other goodies. In fact…
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A few weeks ago, I caught the bus, and before I even sat down, I started rummaging in my backpack for my earbuds. After tipping the bag’s contents out on my lap in an increasingly frantic state, I realized: I must have left them behind. I had a 50-minute bus ride ahead of me, plus…
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This is a good piece – one those ones I wish I had written. Summary: The irony of equity investing is this: if you knew nothing about the stock market and did not follow any financial news, you have probably made a very handsome return on your investment, but if you tried to be a…
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The line stretched as far as my 10-year-old eyes could see. I had never seen a line that long for anything—let alone a movie. It was 1991. My father and I were standing outside on a cold Istanbul afternoon waiting for tickets to see Terminator 2. He had promised to take me to see the hottest…
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